Vietnam should develop high-quality human resources and upgrade the infrastructure, especially for industrial, export processing and economic zones (IPEZs) to attract Japanese small- and medium-sized businesses (SMEs).

Japanese Ambassador to Vietnam Tanizaki Yashuki emphasized this at a seminar in Hanoi on March 22.

He affirmed the Japanese Government’s policy of supporting SMEs in promoting investment in foreign countries to restore production and disperse risks.

Japan now has as many as 2,200 SMEs operating in support industry but only 2.7 percent of them have invested in foreign countries, the diplomat said.

Ambassador Yashuki described Vietnam’s political and social stability, young workforce and investment policy as important factors behind its strategic partnership with Japan.

Vietnam has potential for developing support industry to reduce its dependence on imported input materials, producing high added-value goods and facilitating the development of industry, he stressed.

Meanwhile, Prof. Kenichi Ohno, Director of the Vietnam Development Forum, said Vietnam is facing tough competition from other countries such as Myanmar, Thailand, Laos, Cambodia, and China.

Therefore, he said, Vietnam should focus on specific areas to meet the demand of different businesses.

He proposed that Vietnam not only offer favourable conditions but also improve infrastructure facilities such as workshops and services for Japanese SMEs to invest effectively in industrial zones.

Vu Dai Thang, Director General of the Department for Economic Zones Management under the Ministry of Planning and Investment (MPI), said Vietnam has introduced the Law on Investment which shortens the time for license approval process.

Investors in support industry will not only enjoy the exemption of land rental and preferential tax and credit policies but also simplified administrative procedures, offered by management board of IPEZs under the “one-stop” mechanism, he said.

Prime Minister Nguyen Tan Dung has instructed the MPI to work closely with Haiphong city and Ba Ria – Vung Tau province to set up special industrial zones for Japanese SMEs.

The MPI and related agencies are drafting policies and mechanisms for support industry businesses to promote their production.

Source: VOV